The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Kirkland Lake Gold Ltd. who purchased shares between January 8, 2018 and November 25, 2019.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (ii) as a result of the known, but undisclosed, impending acquisition of Detour, the Company’s projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (iii) the Company’s financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects and/or lacked a reasonable basis and omitted material facts.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 28, 2020 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.